March 07, 2017

Cordray speaks on financial innovation in New York

Consumer Financial Protection Bureau Director Richard Cordray spoke at the LendIt USA Conference in New York, N.Y., on March 6, 2017. In his prepared remarks, Cordray provided an overview of the bureau's efforts "to encourage innovations in the financial marketplace that will lead to products and services that are more accessible, more affordable, and more convenient for consumers."

He discussed the CFPB's Project Catalyst, which is intended to promote consumer-friendly financial innovation; the bureau's efforts to learn how consumers are accessing, using, and exercising control over their personal financial data in light of recent developments in the way data is utilized in the financial marketplace; and the bureau's efforts "to encourage the use of new types of data that can open up credit opportunities for more consumers."